There have been many articles written about the Lifetime Savings ISA (LISA) - due to launch in April 2017; I have contributed to the debate with a number of posts myself.
Some are maligning it, others believing it to be the saviour to jump start young people's savings plans.
Whatever the perspective, one thing is certain, if you don't understand it and you don't read the small print, then there may well be trouble ahead, particularly in the first year and when transferring a Help to Buy ISA to the LISA.
This article highlights some scenarios where the full 25% government bonus may not be paid and for those thinking of the LISA, for those with children about to start saving into a LISA, it is well worth reading.
Savers who open a new Lifetime Isa when it’s launched on April 6 could lose up to £1,900 in bonuses from the Government if they are not extremely careful. Savers can put up to £4,000 a year into the Isa and receive a 25pc government top-up on the money. While the bonus is paid monthly after the first year, for technical reasons it must be paid annually in that first year. This means savers who invest the maximum £4,000 in the first year and then buy a house before that 12-month bonus arrives will lose the bonus.